I have recently been attempting to resolve a few Tribal Loans using the methods described on the "Dealing with Unlicensed Lenders". I was successful with Plain Greens & Big Picture Loans and am trying now with Great Plains Lending. Please see the information below...if anyone can help with a response I would much appreciate it!
Name of Lender: Great Plains Lending
How you obtained the loan (internet, storefront, etc.): Internet
What state you live in: Nevada
How much was deposited by each lender (if you've had and repaid multiple loans prior to this one, add them all together): $3000.00
How much you've been debited by each lender (again, if you've had multiple loans, do the math and give us a total): $3124.17 (I paid a payment today).
Details of any communication you've had with the lender:
Here's my email to them:
It has come to my attention that lenders must be licensed by the state of Nevada in order to offer loans to its residents. Since your company has no license in my state, the loan contract I have with you is not valid. Although I am not required to do so, I am willing to repay the principal balance of the loan. To date, I have received $3000 and have made 20 payments of $148.77 (totaling $2975.40) leaving a balance due of $24.60. I am willing to repay the $24.60 balance via credit card at anytime to completely resolve my debt on the principal balance of this loan
At this time I have revoked ACH authorization. You are no longer authorized to withdraw payments from my checking account. I am also revoking any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.
Please contact me via email to set up payment arrangements as outlined above. Thank you.
Here's their response:
Your correspondence has been directed to us for review and we will be happy to assist you to the best of our ability. Thank you for bringing your concerns to our attention.
By way of background, Great Plains Lending ("Great Plains") is a limited liability company organized under the laws of the Otoe-Missouria Tribe of Indians ("Otoe-Missouria"), a federally recognized Indian Tribe. Great Plains is owned and operated by the Otoe-Missouria Tribe, and operates exclusively on land owned by the Tribe. As such, Great Plains is an "arm of the Tribe," and entitled to the same immunity from state laws as is the Otoe-Missouria Tribe.
We are sorry to hear of your dissatisfaction with the loan you obtained from Great Plains Lending. When loans are made via the internet and not through a personal interaction, we have to rely that customers have thoroughly researched our product, have read and understood all of the costs and terms associated with the loans we offer, and made the decision that Great Plains Lending is the best option to meet their needs. We have tried to make this information as prominent, clear and understandable as possible. The "Loan Cost & Terms" section of our website (https://www.greatplainslending.com/loan-cost-and-terms) provides detailed information on the costs associated with each loan amount we offer to allow customers to compare our loans with those offered by other lenders. The primary purpose of prominently disclosing our Annual Percentage Rates ("APR") on the "Loan Cost & Terms" page is to allow the customer to compare the cost of our loans with other lenders.
In addition, we offer installment loans with no fees or prepayment penalties, you only pay interest for the time that your loan is outstanding. You can choose to pay your loan off at any time with no prepayment penalty.
If you would like to review your loan agreement, you can do so at any time by logging onto our website at www.greatplainslending.com, click on the "Current Loan" tab, then on loan number 1619063 (next to "Loan Id").
To address or additional, concerns you can view our license on or website.
Currently you remain obligated for your remaining balance of $2,765.88 to which you signed and agreed to in your terms and conditions upon applying for the loan. We recommend that you contact our Customer Support assist you may need, and help keep your account current. Should your loan fall delinquent, or charge-off at any time during the duration of your loan, we are required to report that information.
Thank you for allowing us the opportunity to respond to your concerns.
Any ideas on how I should respond to this? I will be closing my account down so that they can no longer take out payments but I'd like for this debt to be resolved without any further payments if possible.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.